Trans-Baikal Industrial and Investment Council convenes in Moscow

NornickelPublic Joint Stock Company "Mining and Metallurgical Company "Norilsk Nickel” and its subsidiariesGo to the glossary hosted a meeting of the Industrial and Investment Council of the Trans-Baikal Territory at the CompanyPublic Joint Stock Company "Mining and Metallurgical Company "Norilsk Nickel"Go to the glossary’s office in the Moscow International Business Centre. It was attended by representatives of federal government authorities, large businesses and the Trans-Baikal Territory government ministers. The participants reviewed the progress in implementing the region’s socio-economic development strategy.

Nornickel is a key investor in the Trans-Baikal Territory. In late 2017, the Company launched its Bystrinsky GOK in the region. As part of the public-private partnership with the Trans-Baikal Territory, Nornickel built the Naryn 1 — Gazimursky Zavod railway and invested heavily in energy infrastructure development. The Company’s overall investments in the region totalled approximately RUB 90 bn.

“Bystrinsky GOK is the first public-private partnership project that has been implemented in the region,” said Sergey Novichenko, Deputy Prime Minister — Minister of Economic Development of the Trans-Baikal Territory.

For about a year, Bystrinsky GOK operated in the pre-commissioning mode. In mid-September, the State Expert Review Board granted approval to launch its commercial operation, and by the end of 2019 the plant is expected to reach its 10 mtpa design capacity.

In 2018, Bystrinsky GOK’s payments to the region’s budget will total some RUB 1.5 bn. Its overall contributions to the budget, including non-tax payments, will make up about 4% of the region’s total revenue.

“I am confident that our cooperation will contribute significantly to the economic growth and development of the Trans-Baikal Territory,” said Vladislav Gasumyanov, State Secretary — Vice President of Government Relations at Nornickel.

The Industrial and Investment Council of the Trans-Baikal Territory was established in 2016. The Council works to improve business environment and facilitate investment in the region’s economy.